Stocks retreat to start September
Published On Sep 3, 2024, 11:57 AM
The stock market began September on a negative note, with significant declines across major indexes, particularly in technology stocks like Nvidia, which plummeted nearly 10% following disappointing earnings. The Dow Jones lost over 600 points (1.5%), the S&P 500 fell 2.1%, and the Nasdaq Composite dropped 3.3%. This downturn is attributed to investor anxiety ahead of key economic data, including a jobs report that may influence Federal Reserve interest rate cuts. The outlook for September is cautious due to its historical challenges for the markets.